International.
After a good first quarter, Lanxess has raised its profit forecast for fiscal 2016. The company now expects to achieve pre-extraordinary EBITDA in a range of €900 million and €950 million. Previously, Lanxess had assumed profits of between 880 and 930 million euros.
"We started fiscal 2016 with a good first quarter and the second quarter has started well. For this reason, we are raising our orientation throughout the year," said Lanxess Board Of Directors President Matthias Zachert.
Net income increased substantially to €53 million, compared to €22 million in the first quarter of 2015. Earnings per share were €0.58, up from €0.24 a year earlier. Sales decreased by just under 6% from €2.04 million to €1.92 million. This resulted particularly from adjustments in sales prices to reflect lower commodity prices.
In the first quarter of 2016, net financial liabilities remained virtually stable at €1,216 million, compared to €1,211 million at the end of 2015.
